All Forum Posts by: Robbie Reutzel

Hello,

I am looking for private lenders who work North of Boston.  I will only need to borrow for 3-6 months for mostly cosmetic rehabs.  I anticipate only needing to borrow $30-60K/project. 

Please PM me if you are interested.

Thanks,

Rob

Hi Rick,

I may be interested in lending at 8% through my sdIRA. 

Please send me the numbers and analysis at [email protected]. 

Thanks,

Rob

Hi Jennifer,

We will need much more information to help you but I think it is important to understand a few things:

1) what market are you working in Mass? I can tell you that in Eastern Mass I am seeing very few "deals" which means that anything that could be a deal is selling for more than it should due to multiple bids. That and, generally speaking, Sellers in this area know the value of their homes so when you offer 60-65% of ARV (or whatever) they are not likely to accept.

2)  How many and what types of direct mail are you sending?  I really don't think you can assess how well a campaign is working until you are sending 1000+ pieces per month for 6+ months. Handwritten letters are also known to get a better success rate especially here where sellers are getting a ton of postcards and yellow letters. 

Remember, the average prospect will not respond until you have made 6-7 contacts with them. 

Everyone says wholesaling is an inexpensive way to break into REI and it can be but to get any type of meaningful real flow you are going to need to spend $$$.

Stick with it but prepared to get very little to know response your first few mailings. 

Good luck!

Expired listings are another source. They've already told you they want to sell by listing the property.  They probably would rather not re-list. Work on their pain points and sometimes they'll go for it. 

Welcome Nick!

This is a great resource to learn about all aspects of investing. I suggest you immediately download the Ultimate Beginner's Guide and listen to all of the podcasts. There is great information in both of those resources.

You should also set your keywords so that you will be alerted when a subject of interest is being discussed.

Lastly, and most importantly, pick three REIAs and start attending them and networking with other investors. It can be difficult but it will pay the most dividends.

It seems like you have a good plan.  

Good job getting started and good luck!

Hi Dolores,

I am a broker and investor who works quite a bit in Middlesex County.  I am assuming there were multiple offers for this duplex?

If so, you can be fairly certain that the listing agent will have the other buyers on speed dial in case something comes up.  

I can tell you that it's not a very pleasant experience as a broker because you have very little leverage in the situation you describe especially if the other buyers have waived their inspection contingencies etc.  You can imagine how buyers feel when you tell them it's basically a take it or leave it situation.

If issues come up you can remind the Seller and listing agent that, depending on what is uncovered during the inspection, they will have to disclose it to other buyers once they are made aware of it.  

That sometimes works but sometimes not.

Frankly, it's not a great market to be buying retail.

Welcome Robin!

This is a great resource to learn about all aspects of investing. I suggest you immediately download the Ultimate Beginner's Guide and listen to all of the podcasts. There is great information in both of those resources.

As Jonathan mentioned, you should also set your keywords so that you will be alerted when a subject of interest is being discussed.

Lastly, and most importantly, pick three REIAs and start attending them and networking with other investors. It can be difficult but it will pay the most dividends.

Good luck and great job getting back in the game.

Welcome William!

This is a great resource to learn about all aspects of investing. I suggest you immediately download the Ultimate Beginner's Guide and listen to all of the podcasts. There is great information in both of those resources.

You should also set your keywords so that you will be alerted when a subject of interest is being discussed.

Lastly, and most importantly, pick three REIAs and start attending them and networking with other investors. It can be difficult but it will pay the most dividends.

Good luck and great job taking the first step.

Welcome Raeshelle!

This is a great resource to learn about all aspects of investing.  I suggest you immediately download the Ultimate Beginner's Guide and listen to all of the podcasts.  There is great information in both of those resources.

You should also set your keywords so that you will be alerted when a subject of interest is being discussed.  

Lastly, and most importantly, pick three REIAs and start attending them and networking with other investors.  It can be difficult but it will pay the most dividends.

Good luck and great job taking the first step.

Hey Rory,

Great to have you aboard.  

Hope to see you at some REIAs in the area.

-Rob